Wednesday, May 24, 2006

Jet-Sahara deal out of air pocket

New Delhi: Paving the way for merger of Jet Airways with Air Sahara, the investigating arm of the Monopolies and Restrictive Trade Practices Commission (MRTPC) has cleared the Rs 2,300-crore deal from the monopoly angle.
The buyout does not violate the existing law on monopolies, the Director General of Investigation and Registration (DGIR) has informed the Commission.
As of now, Jet is running Air Sahara as a fully-owned subsidiary since government clearances are pending. Since the DGIR’s report is likely to expedite MRTPC clearance for the deal, Jet has to now wait for clearance from other wings of the government like the Director General of Civil Aviation.
The DGCA has already received the policy instructions from the ministry and a decision on the specifics of the Jet-Sahara case is expected soon.
24/05/06 Economic Times